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Adisoft Technologies Ltd
SMEListed
Open:Thu, 23 Apr 2026
Close:Mon, 27 Apr 2026
Lot Size:800 Shares
Price Band:₹ 163 - ₹ 172
Listing:NSE
Fresh Issue:74.10 Cr
OFS:-
Total IPO Size:74.10 Cr
QIB : 49.97%
Retail : 35.03%
Total HNI : 15.00%
EventDate
Open Date23-04-2026 , Thursday
Close Date27-04-2026 , Monday
Tentative Allotment28-04-2026 , Tuesday
Tentative Listing Date30-04-2026 , Thursday
Retail Appl. Cut Off Time27-04-2026 , Monday 05:00 PM
Non Retail Appl. Cut Off Time27-04-2026 , Monday 04:00 PM
Anchor Allotment22-04-2026 , Wednesday
Initiation Of Refund29-04-2026 , Wednesday
Credit Of Share To Demat29-04-2026 , Wednesday
Industrial Automation & Smart Manufacturing IPO Analysis

Adisoft Technologies Limited IPO - Business Overview & IPORupee Insight

Adisoft Technologies Limited operates in the industrial digital automation segment and provides customized automation solutions for automobile manufacturers, automotive OEMs and industrial production facilities. The company focuses on designing and implementing automation systems that improve productivity, reduce manual intervention and enhance manufacturing efficiency.

Business Overview

The company is engaged in designing, developing, assembling, testing, installation and commissioning of industrial automation systems. Its offerings include automated assembly lines, robotic work cells, material handling systems, smart conveyors and special purpose machinery tailored to customer-specific manufacturing requirements.

The company primarily serves automobile manufacturers, auto OEMs and component manufacturers requiring factory automation, productivity enhancement and digital manufacturing integration.

Its automation systems integrate technologies such as:

  • PLC (Programmable Logic Controller)
  • SCADA systems
  • IoT-based monitoring
  • MES integration
  • Vision inspection systems
  • Traceability systems
  • AI-enabled inspection solutions
IPORupee View:
Adisoft operates in a highly specialized B2B engineering niche where technical execution capability matters more than branding. Such businesses usually build long-term customer stickiness once integrated into factory operations.

Product & Solution Portfolio

The company's industrial automation portfolio includes:

  • Automated assembly lines
  • Material handling systems
  • Smart conveyors
  • Robotic and cobot work cells
  • Vision inspection systems
  • Quality control systems
  • Production tracking systems
  • IoT digitization solutions
  • Utility monitoring systems
  • Jigs & fixtures

Apart from project-based automation solutions, the company also trades industrial automation products such as PLCs, HMIs, servo systems and digital picking systems.

Retail Investor Insight:
Automation projects generally have higher value addition and margins compared to pure trading businesses. Investors should track whether project execution revenue continues to remain the dominant business segment.

Financial Performance Analysis

Particulars FY25 FY24 FY23
Revenue From Operations Rs. 13,171.78 Lakh Rs. 10,326.85 Lakh Rs. 7,554.27 Lakh
EBITDA Rs. 2,166.49 Lakh Rs. 1,606.47 Lakh Rs. 831.72 Lakh
PAT Rs. 1,611.08 Lakh Rs. 1,175.57 Lakh Rs. 607.93 Lakh
EBITDA Margin 16.45% 15.56% 11.01%
PAT Margin 12.23% 11.38% 8.05%
ROE 39.11% 43.12% 33.10%
ROCE 29.11% 32.35% 27.25%
Key Observation:
The company has shown strong revenue growth along with improving profitability over the last three financial years. EBITDA margins improved from 11.01% in FY23 to 16.45% in FY25, indicating better operational efficiency and project execution capability.

Industry Positioning

India's manufacturing sector is increasingly adopting automation due to:

  • Rising labour costs
  • Demand for higher productivity
  • Need for traceability and quality control
  • Industry 4.0 adoption
  • Electric vehicle manufacturing expansion
  • Smart factory investments

Automobile and auto component industries are among the largest adopters of industrial automation in India.

IPORupee Industry View:
Industrial automation is becoming a long-term structural manufacturing trend in India. Companies capable of integrating hardware, software and digital monitoring systems may benefit from increasing smart manufacturing investments over the next decade.

Export & Geographic Presence

The company has delivered projects across:

  • Maharashtra
  • Gujarat
  • Haryana
  • Karnataka
  • Uttar Pradesh

It has also exported automation systems to Bangladesh and Bahrain during FY25 and the October 2025 period.

Investor Interpretation:
Export capability in industrial automation indicates technical competitiveness and may support future international business opportunities if execution quality remains strong.

Engineering & Technical Capability

The company undertakes complete in-house engineering lifecycle activities including:

  • Mechanical design
  • Electrical system design
  • Control architecture
  • Simulation & conceptualization
  • Testing & assembly
  • Installation & commissioning

As of January 31, 2026, the company had:

  • 49 professionals in design & development
  • 31 employees in sales & marketing
Important Insight:
Engineering manpower and execution capability are major competitive advantages in industrial automation businesses. Technical teams directly influence project quality, repeat orders and customer retention.

Business Model Analysis

The company operates through two major revenue streams:

  • Automation Solutions: End-to-end customized industrial automation projects.
  • Trading of Automation Products: PLCs, HMIs, servo systems and digital automation products.

Project-based automation businesses usually involve:

  • Customized engineering work
  • Long execution cycles
  • Higher working capital requirements
  • Client-specific integration
  • After-sales support obligations
Risk Insight:
Automation projects may face execution delays, client dependency risks and cash flow pressure due to milestone-based payments and working capital intensity.

Joint Venture Advantage

The company entered into a joint venture arrangement with AIOI Systems Co. Ltd., Japan and AIOI Systems India Private Limited in February 2021.

Under this structure:

  • AIOI Systems Japan holds 76%
  • Adisoft Technologies holds 24%

The joint venture focuses on development and supply of automation products within India.

IPORupee View:
Association with Japanese automation expertise may improve technical capability, process quality and future business opportunities, especially in precision manufacturing environments.

What Retail Investors Should Understand

  • This is not a simple manufacturing company; it is an industrial engineering and automation solutions provider.
  • The business benefits from long-term Industry 4.0 and smart manufacturing trends.
  • Automation companies can generate strong margins when technical capability and execution quality remain strong.
  • Project-based revenue can create fluctuations in quarterly performance depending on project execution timelines.
  • High ROE and ROCE indicate strong capital efficiency historically.
  • The company's future growth depends heavily on industrial capex cycles and automobile manufacturing demand.
  • Automation demand may increase further with EV manufacturing expansion and digital factory adoption.

Key Positives

  • Strong revenue growth over FY23-FY25
  • Improving EBITDA and PAT margins
  • High ROE and ROCE profile
  • Presence in industrial automation niche
  • Export exposure
  • Strong engineering capabilities
  • Long-term manufacturing automation opportunity
  • Japanese JV association

Key Risks

  • Business linked to industrial capex cycle
  • High dependency on automobile sector
  • Project execution delays can impact revenue recognition
  • Working capital intensive operations
  • Customer concentration risk may exist in B2B industrial projects
  • Technology evolution risk in automation industry
  • Lower margins in trading business compared to project execution

IPORupee Final View

Adisoft Technologies operates in a specialized and technically intensive industrial automation segment that benefits from increasing smart manufacturing adoption across India. The company has demonstrated strong financial growth, improving profitability and healthy return ratios over the last three years.

Its business model is supported by customized engineering capabilities, in-house assembly infrastructure and integration expertise across automation hardware and digital systems. The company's presence in automotive automation, combined with growing Industry 4.0 adoption trends, creates long-term business opportunities.

However, investors should understand that industrial automation businesses are project-driven and execution-heavy. Revenue visibility may fluctuate depending on order inflows, project timelines and industrial capex cycles.

Overall, Adisoft Technologies appears positioned as a growing industrial automation player benefiting from India's manufacturing modernization trend, though execution quality and order scalability will remain critical long-term monitoring factors.

Disclaimer

This content is created solely for educational and informational purposes based on publicly available information including the Red Herring Prospectus (RHP), company filings and industry-related disclosures. This is not investment advice, stock recommendation, financial advice or solicitation to invest.

All financial figures, ratios, operational details and business information mentioned above are sourced from the company's disclosed RHP documents and related public sources. Investors should independently verify all information before making investment decisions.

IPO investments involve market risks including listing volatility, business risks, sector risks, liquidity risks and financial risks. Past financial performance does not guarantee future performance. Industrial automation businesses may also be affected by manufacturing slowdown, industrial capex cycles, customer concentration, execution delays and technological changes.

IPORupee does not guarantee accuracy, completeness or future outcomes related to the company or the IPO. Investors are advised to read the complete RHP, consult financial advisors if required and conduct their own due diligence before investing.

Subscription Data

CategorySize
(In Cr)		Subscribed
(In Cr)		No of Times
(x)
QIB35.171,382.8039.32
bNII (Above 10L)7.041,058.08150.38
sNII (2L to 10L)3.52215.4561.24
NII Total10.561,273.53120.60
Retail24.661,164.9247.24
Total70.393,821.2554.29
CategoryPercentageNo. of Shares OfferedAmount
QIB
49.97 %
20,44,800
35.17 Cr
Retail
35.03 %
14,33,600
24.66 Cr
Total HNI
15.00 %
6,13,600
10.56 Cr
SHNI
5.00 %
2,04,533
3.52 Cr
BHNI
10.00 %
4,09,067
7.04 Cr
ApplicationDiscountQty (Lot)Total
Retail MIN
-
1600 (2)
₹ 2,75,200
Retail MAX
-
1600 (2)
₹ 2,75,200
SHNI MIN
-
2400 (3)
₹ 4,12,800
SHNI MAX
-
5600 (7)
₹ 9,63,200
BHNI MIN
-
6400 (8)
₹ 11,00,800
ObjectiveNo Of SharesAmount
Fresh Issue
43,08,000
74.10 Cr
DocumentAction
RHPView
IPO Contact Details
Registered Office
Prathamesh Complex & Trading Plot No. PAPBG-102, 103, 104 & 105, 1st and 2nd Floor, MIDC Chinchwad Industrial Area, Bhosari I.E., Pune - 411026, Maharashtra, India.
Corporate Office
Prathamesh Complex & Trading Plot No. PAPBG-102, 103, 104 & 105, 1st and 2nd Floor, MIDC Chinchwad Industrial Area, Bhosari I.E., Pune - 411026, Maharashtra, India.
Contact Person
Vaibhav Nandkumar Salunke - Company Secretary & Compliance Officer
Registrar to Issue Details
Registrar Name
KFin Technologies Limited
Contact Person
M. Murali Krishna

Lead Managers

NameContact PersonTelephoneEmailWebsite
Hem Securities Limited
Ajay Jain
+91-22-49060000
ib@hemsecurities.com
www.hemsecurities.com
IPO Details

Adisoft Technologies Ltd IPO Details FAQs

Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.

Which company's IPO is this?

This IPO is of Adisoft Technologies Ltd. The issue is scheduled to open on Thursday, 23 April 2026 and closes on Monday, 27 April 2026.

After the IPO process is completed, the shares are proposed to be listed on NSE.

What is the IPO size?

IPO size means the total amount the company plans to raise through the public issue.

For Adisoft Technologies Ltd IPO, the total issue size is Rs 74.1 crore, consisting of a fresh issue of Rs 74.1 crore.

What is the price band or issue price?

Price band is the price range within which investors can bid for shares in a book-built IPO.

For this IPO, the lower price band is Rs 163 per share and the upper price band is Rs 172 per share.

What is the lot size?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For Adisoft Technologies Ltd IPO, the minimum application size is 1,600 shares, or 2 lots. At the upper price band of Rs 172 per share, the minimum application amount is Rs 2,75,200. Applications must be made in multiples of 800 shares.

What is Fresh Issue in this IPO?

Fresh Issue means the company issues new shares to investors and receives money from that part of the IPO.

For Adisoft Technologies Ltd IPO, the Fresh Issue size is Rs 74.1 crore. The company can use these funds for purposes mentioned in the IPO documents, such as business growth, repayment of borrowings, working capital, capital expenditure, or general corporate purposes.

IPO Timeline

Adisoft Technologies Ltd IPO Timeline FAQs

Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.

What is the IPO opening date?

The IPO opening date is the first day on which investors can apply for the public issue.

For Adisoft Technologies Ltd IPO, the IPO opens on Thursday, 23 April 2026.

What is the IPO closing date?

The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.

Adisoft Technologies Ltd IPO closes on Monday, 27 April 2026.

When is the tentative allotment date?

The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.

For Adisoft Technologies Ltd IPO, the tentative allotment date is Tuesday, 28 April 2026.

When is the tentative listing date?

The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.

Adisoft Technologies Ltd IPO is expected to list on Thursday, 30 April 2026.

When do refunds and demat credit happen?

After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.

For Adisoft Technologies Ltd IPO, refund initiation is expected on Wednesday, 29 April 2026, and credit of shares to demat accounts is expected on Wednesday, 29 April 2026.

IPO Structure

Adisoft Technologies Ltd IPO Structure FAQs

Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.

What is the IPO structure?

IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.

For Adisoft Technologies Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI). The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.

What is the QIB category?

QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.

In Adisoft Technologies Ltd IPO, 49.97% shares are reserved under the QIB category, with 20,44,800 shares offered, and an allocation amount of ₹35.17 crore.

What is the Retail category?

The Retail category is reserved for individual investors and HUFs applying within the SME retail application limit, which is generally up to 2 lots under IPO rules.

In Adisoft Technologies Ltd IPO, 35.03% shares are reserved under the Retail category, with 14,33,600 shares offered, and an allocation amount of ₹24.66 crore.

What is the NII/HNI category?

NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.

In Adisoft Technologies Ltd IPO, 15% shares are reserved under the NII/HNI category, with 6,13,600 shares offered, and an allocation amount of ₹10.56 crore.

What is the SHNI category?

SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.

In Adisoft Technologies Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 2,04,533 shares offered, and an allocation amount of ₹3.52 crore.

What is the BHNI category?

BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.

In Adisoft Technologies Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 4,09,067 shares offered, and an allocation amount of ₹7.04 crore.

Lot Size Details

Adisoft Technologies Ltd IPO Lot Size FAQs

Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.

What is lot size in an IPO?

Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.

For Adisoft Technologies Ltd IPO, the minimum application size is 1,600 shares, or 2 lots. At the upper price band of Rs 172 per share, the minimum application amount is Rs 2,75,200. Applications must be made in multiples of 800 shares.

What is Retail minimum application?

Retail minimum application shows the minimum application size for retail investors.

For Adisoft Technologies Ltd IPO, the Retail minimum application is 1,600 shares (2 lots) for about Rs 2,75,200.

What is Retail maximum application?

Retail maximum application shows the maximum application size generally available under the retail category.

For Adisoft Technologies Ltd IPO, the Retail maximum application is 1,600 shares (2 lots) for about Rs 2,75,200.

What is SHNI minimum application?

SHNI minimum application shows the minimum application size for the Small HNI category.

For Adisoft Technologies Ltd IPO, the SHNI minimum application is 2,400 shares (3 lots) for about Rs 4,12,800.

What is SHNI maximum application?

SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.

For Adisoft Technologies Ltd IPO, the SHNI maximum application is 5,600 shares (7 lots) for about Rs 9,63,200.

What is BHNI minimum application?

BHNI minimum application shows the minimum application size for the Big HNI category.

For Adisoft Technologies Ltd IPO, the BHNI minimum application is 6,400 shares (8 lots) for about Rs 11,00,800.

Financial Highlights

Adisoft Technologies Ltd IPO Financial FAQs

Understand important financial figures in simple language using the financial statement data available for the IPO.

What are Financial Highlights?

Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.

The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.

How should investors read the Financial Highlights table?

Investors should read the table to understand the company's financial performance and financial position over different periods.

The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.

Why can financial line items differ between IPOs?

Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.

Some companies may provide detailed financial breakup, while others may present broader financial categories.

What should investors check in financial data?

Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.

A single financial figure should not be used alone to judge the company.

Why is profit not enough to judge an IPO?

Profit is important, but it does not show the full financial picture.

Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.

Why is cash flow important in financial analysis?

Cash flow helps investors understand how money moves in and out of the business.

A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.

Should investors rely only on Financial Highlights?

No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.

Peer Comparison

Adisoft Technologies Ltd IPO Peer Comparison FAQs

Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.

What is Peer Comparison?

Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.

It helps investors understand the company in a broader industry context.

Why is Peer Comparison useful?

Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.

It is useful for context, but it should not be treated as a final investment conclusion.

Why can peer comparison metrics differ?

Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.

Investors should compare only relevant and similar metrics.

How should investors read a Peer Comparison table?

Investors should use the peer comparison table as a reference point.

Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.

Can Peer Comparison decide whether an IPO is good or bad?

No. Peer Comparison does not directly decide whether an IPO is good or bad.

It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.

Should investors rely only on Peer Comparison?

No. Peer Comparison is only one part of IPO analysis.

Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.

Key Performance Indicators

Adisoft Technologies Ltd IPO KPI FAQs

Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.

What are Key Performance Indicators (KPIs)?

Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.

They help investors understand the company beyond basic financial figures.

Why are KPIs important for IPO investors?

KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.

They should be reviewed together with financial statements, peer comparison and IPO pricing.

Why can KPI availability differ between IPOs?

KPI data may differ depending on the company, industry, financial disclosures and available offer document information.

Not every IPO may provide every KPI, and some metrics may not be applicable to every business.

How should investors read KPI metrics?

Investors should read KPI metrics together instead of relying on one ratio.

A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.

Can high or low KPI values directly decide investment quality?

No. High or low KPI values need context.

The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.

Should investors rely only on KPI data?

No. KPI data is useful, but it should not be used alone.

Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.